Bank of New York Mellon Corp Sells 921,889 Shares of General Motors (NYSE:GM)

Bank of New York Mellon Corp cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,582,066 shares of the auto manufacturer’s stock after selling 921,889 shares during the quarter. Bank of New York Mellon Corp’s holdings in General Motors were worth $616,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the fourth quarter worth $25,000. Crews Bank & Trust purchased a new position in General Motors in the fourth quarter worth about $26,000. Compass Planning Associates Inc bought a new stake in shares of General Motors during the 4th quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of General Motors during the 4th quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Motors in the 4th quarter worth approximately $31,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Up 0.3 %

Shares of GM stock opened at $46.73 on Wednesday. The stock has a market cap of $46.49 billion, a P/E ratio of 7.60, a PEG ratio of 0.67 and a beta of 1.40. The company’s fifty day simple moving average is $50.48 and its two-hundred day simple moving average is $50.34. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Analyst Ratings Changes

GM has been the subject of several recent research reports. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $59.71.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.